Brutal

[kwagga]

Just when you think you've seen a short term bottom, this thing drops 10% in 5 days. Just shows that if momentum is to the downside, it's just stupid to try and call a bottom. The market can remain irrational longer than you can stay liquid.

[FEK]

Agreed and a further 2% down today.

[WES]

Yes Kwagga, I agree 100 %, it like catching falling knifes, and I have caught a couple in my life, like Abil ! eina !The opposite is also true, bulls can be stronger than you think, that is why I dont short any shares any more like Naspers !, but Warren Buffet said that you must buy shares, when the market gets it wrong, the market will obvouisly correct in time, but that takes some guts to do at the time.

[Preston]

Gold shares are affected by macro economic decisions. Fed's tapering is currently impacting these share. USA economic is growing, reduced dependencies to invest in gold for safe haven.

[FEK]

Preston i agree but from about R66 a few months ago to R33, that is a far too harsh in my opinion. This share has been hammered more compared to the other gold shares.

[Prestonmyhusban]

Are you trading or investing?

[Preston]

Schmidt, Paul (CFO) CA(SA), is buying, so that is a good sign.

[kwagga]

Yes. It's received far more punishment than the other goldies, partly because it is under US inquiry for that crooked BEE deal. It's become the dog under the gold shares.

[kwagga]

I call that a glimmer of hope. Good sign is stretching it.

[FEK]

We need God to buy, then that will be a good sign :-)

[kwagga]

It's negative sentiment like this that drives shares down to pockets of deep value. Where that pocket is, is anyone's guess, but I'm willing to guess that is perhaps close to the R25 - R30 range.

[SimonPB]

no it not, he's paid to be bullish on gold and gold stocks ..

[kwagga]

Update 15%+ down in 5 days.

[Yatagan]

And how much increase on salary did Mr Nic Holland get? And share options.. and R9 million bonus, I think..

[kwagga]

He is overpaid, but I wouldn't want his job - not in this industry, not in this country. It's a political minefield.

[Preston]

If you can time your entry price and leave it for 20 yrs, you could be a very rich person.

[kwagga]

20 years ago it traded @5520. I bet someone then said that same exact words. I took one right up the @## for this share in the last week. Payback will be sweet sometime in the future, but I reckon rather brisk. At least now I can open my portfolio page in the morning without a f&^%k you Goldfields greet. It was a spec buy in all fairness, and I did limit my exposure and risk, but my ego did get bruised a little in the process.

[Preston]

Positive thinking, the taxman shared 40% of your pain :-)

[FEK]

Another 2% down this morning, how oversold is this share ?

[kwagga]

The only buy in Gold right now should be if you close out your short. There is a stampede on the short side, so longs are killed in their tracks. If this turns (if), those massive short covering will create a nice bounce. That bounce could be nothing more than a dead cat bounce, but if your timing is good, I guess you could make a few bucks over a few days.